TELNET Holding Group has released its consolidated financial statements as of December 31, 2024, which will be submitted for approval at the Ordinary General Assembly meeting concerning the 2024 fiscal year.
The statements reveal a net profit attributable to the Group of 9.5 million dinars, compared to a net loss of 3.9 million dinars in 2023.
This improvement is primarily due to the reversal of a 10-million-dinar risk and contingency provision, which had been established at the end of 2023 following a customs audit.
By the end of 2024, TELNET Group generated revenues of approximately 68.9 million dinars, up from 61 million dinars the previous year—marking a 13% increase. Of this total, 66 million dinars came from exports.
Operating expenses decreased by 9%, dropping from 64.3 million dinars to 58.6 million dinars, including 45.3 million dinars in personnel costs. This reduction was driven by lower provisions allocated during the year.
As a result, the operating result showed a surplus of 10.7 million dinars in 2024, compared to an operating deficit of 2.5 million dinars in 2023.
At the individual company level, TELNET Holding’s financial statements revealed a net profit of 6.3 million dinars, a significant improvement from the net loss of 3.5 million dinars recorded as of December 31, 2023.
